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Morning Report - 9 January 2020

Yesterday’s FTSE100 Leaders Price (p) % Chg
EASYJET PLC 1,407.5 2.7%
HARGREAVES LANSDOWN PLC 1,911.5 2.1%
MEGGITT PLC 673.2 2.1%
BT GROUP PLC 195.9 2.0%
COMPASS GROUP PLC 1,897.5 2.0%

 

Yesterday’s FTSE100 Laggards Price (p) % Chg
NMC HEALTH PLC 1257.5 #####
TUI AG-DI 927.4 -4.6%
BRITISH LAND CO PLC 602.8 -2.6%
WM MORRISON SUPERMARKETS 190.8 -2.4%
AUTO TRADER GROUP PLC 558.2 -2.1%

 

Major World Indices Price % Chg 1 Year
FTSE 100 INDEX 7,575 0.0% 10.4%
DOW JONES INDUS. AVG 28,745 0.6% 20.8%
DAX INDEX 13,320 0.7% 23.3%
NIKKEI 225 23,205 -1.6% 13.6%
S&P/ASX 200 INDEX 6,818 -0.1% 18.0%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 60.05 -4.23%
Brent Crude (ICE) USD/bbl. 65.81 -3.60%
Gold Spot USD/t oz. 1,556 -1.2%
Copper (Comex) USd/lb. 281 0.5%
FTSE 100 called to open +30 points at 7604

FTSE 100: 1 hours, 4 Months

Click graph to enlarge

Markets Overview:

 

FTSE 100 called to open +30 points at 7604; Stocks in Asia extended a rally that began in America after the U.S. and Iran appeared to be stepping back from a deeper military conflict.  Global investors breathed a sigh of relief FTSE 100 futures drifted higher with S&P 500 contracts. Haven assets including Treasuries and gold rose, signalling some skittishness after several missiles struck the Green Zone in Baghdad.  The Dow Jones closed yesterday at 28,745 (+161 points), The S&P closed at 3,253 (+15 points) & the Nasdaq closed at 9,129 (+60 points).  In Asia the positive sentiment continued, with the Nikkei closing at 23,739 (+535 points) & the Hang seng completing a green sweep of major indices closed at 28,482 (+394 points).  Oil picked up overnight due to missile strike in Baghdad, trading at $66.27 at time of writing.  Similar concerns caused gold to pick up $6 from its floor overnight.  Trading at $1546 at time of writing.

 

In corporate news this morning:

 

Dunelm reports higher HY pre-tax profit. Like-for-like sales +5% in Q2, total sales for HY +5.6% with total growth +6%. Expect profit before tax to be approx £83m. FY expectations remain unchanged.  

 

Galliford Try reports that underlying construction business continues to perform well, with a high quality order book of £3.2bn and cash balance of £225m. Results are in line with expectations for FY guidance. They expect performance to be weighted to H2 due to both market uncertainty and settlement of certain claims in H1.  

 

Marks & Spencer reported a slight rise in underlying sales in its Christmas quarter with like-for-like sales +0.2%. Food sales +1.4% ahead of analysts average forecasts of +1.1% increase. Clothing and home sales fell -1.7%, which was below analysts expectations of -0.8% decline. FY guidance is unchanged. 

Tesco posted a +0.1% rise in UK like-for-like sales during a ‘subdued’ Christmas for consumer spending. This was against average analyst forecasts of +0.2% rise.

 

Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

 

Reporting Today:

 

Tesco, Dunelm, Marks & Spencer

 

 

Upgrades/Downgrades:

 

Enquest upgraded to Overweight by Barclays (Bloomberg: 1 Buy/ 4 Holds/ 2 Sells)

 

Tullow Oil Downgraded to Equalweight by Barclays (Bloomberg: 6 Buy/ 13 Holds/ 2 Sells)

 

In Focus Today:

 

Chinese Consumer Price Index

 

German Industrial Production

 

Todays’s Ex Dividends:

 

FTSE 100:

 

Aveva

 

FTSE 250:

 

Brewin Dolphin Holdings
Paragon Banking Group
WH Smith
UDG Healthcare
Workspace Group
AJ Bell
QinetiQ Group

 

For any help you may require placing trades or in terms of market information, put a call in to our trading floor – it’s all part of the service.


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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.


Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

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